Vera Therapeutics, Inc. (NASDAQ:VERA) Receives Average Rating of “Buy” from Analysts

Shares of Vera Therapeutics, Inc. (NASDAQ:VERA) have received a consensus rating of “Buy” from the nine research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $63.50.

Several analysts have issued reports on the company. Wedbush upped their price objective on Vera Therapeutics from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Cantor Fitzgerald restated an “overweight” rating and set a $107.00 price objective on shares of Vera Therapeutics in a research note on Tuesday, October 1st. Scotiabank initiated coverage on shares of Vera Therapeutics in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $60.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of Vera Therapeutics from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Guggenheim lifted their target price on Vera Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, October 28th.

Insiders Place Their Bets

In related news, Director Beth C. Seidenberg sold 15,000 shares of Vera Therapeutics stock in a transaction on Monday, October 28th. The stock was sold at an average price of $48.03, for a total value of $720,450.00. Following the transaction, the director now directly owns 131,553 shares in the company, valued at $6,318,490.59. The trade was a 10.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marshall Fordyce sold 19,375 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $40.39, for a total value of $782,556.25. Following the sale, the chief executive officer now directly owns 307,972 shares of the company’s stock, valued at approximately $12,438,989.08. This represents a 5.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,875 shares of company stock worth $3,808,631. 21.70% of the stock is owned by corporate insiders.

Institutional Trading of Vera Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of VERA. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Vera Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,983 shares of the company’s stock valued at $86,000 after acquiring an additional 350 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in Vera Therapeutics during the 2nd quarter worth approximately $135,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Vera Therapeutics during the 2nd quarter valued at $163,000. Quarry LP purchased a new stake in shares of Vera Therapeutics in the second quarter valued at $235,000. Finally, HighVista Strategies LLC acquired a new stake in shares of Vera Therapeutics in the second quarter worth $331,000. Institutional investors and hedge funds own 99.21% of the company’s stock.

Vera Therapeutics Stock Up 1.8 %

VERA stock opened at $33.37 on Tuesday. The company has a market capitalization of $2.11 billion, a P/E ratio of -12.79 and a beta of 1.15. The firm has a 50 day simple moving average of $43.73 and a 200-day simple moving average of $40.99. The company has a current ratio of 13.76, a quick ratio of 13.76 and a debt-to-equity ratio of 0.17. Vera Therapeutics has a twelve month low of $14.20 and a twelve month high of $51.61.

Vera Therapeutics (NASDAQ:VERA) last released its earnings results on Thursday, November 7th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.21). On average, equities research analysts predict that Vera Therapeutics will post -2.89 earnings per share for the current fiscal year.

About Vera Therapeutics

Vera Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing treatments for patients with serious immunological diseases. Its lead product candidate is atacicept, a fusion protein self-administered as a subcutaneous injection that is in Phase III clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis that is in Phase II clinical trial.